Asian stock markets are trading lower on Wednesday as a sharp pullback in Wall Street on doubts about US President Donald Trump's economic agenda prompted investors to rush to safe haven assets such as gold and government bonds.

Japan's benchmark index, Nikkei 225 fell 388.44 points or 2 percent to trade at 19,067.44. China's benchmark index, Shanghai Composite fell 10.68 points or 0.33 percent to trade at 3,250.93. Hong Kong's Hang Seng declined 291.71 points or 1.19 percent to trade at 24,301.41.

Singapore's Straits Times lost 30.72 points or 0.97 percent to trade at 3,127.85. South Korea's KOSPI lost 16.39 points or 0.75 percent to trade at 2,161.99. Taiwan's TAIEX lost 89.82 points or 0.9 percent to trade at 9,882.67.